Money  

Bank grows customer base by 50% with savings scheme

Nnamdi Okonkwo


Gives out N110m in ‘Get Alert In Million Reloaded’ promo

Fidelity bank Plc has announced that its retail strategy execution in the area of developing enhanced saving culture in Nigeria, has translated to an increase in customer base from 2.4 million to 3.8 million in the last three years, representing 50 per cent growth.

Besides, the Bank has designed a fresh savings promo that promises to provide new and existing customers with the unique opportunity to win attractive cash prizes within a specific period.

The Chief Operations and Information Officer, Fidelity Bank, Gbolahan Joshua, while speaking at the unveiling of the ‘Get Alert In Millions Reloaded’ promo, in Lagos at the weekend, said the adoption of retail banking strategy generated a lot of deposits from existing customers, attracted new customers, and enhanced financial inclusion in Nigeria.

He said: “Four years ago, we decided to revamp our retail strategy and set up a dedicated retail banking division. We have brought in over 1.5 million new customers into the bank that has grown the customer base from 2.4 million to 3.8 million customers, a 50 per cent growth. Over 30 per cent of those customers use our digital banking platform, while over 50 per cent using our cards.

“Our retail deposit has moved from over 80 billion to slightly over a 160 billion and we are approaching a 170 billion. That is almost doubling the savings deposit base. We set up a royalty scheme, we have been rewarding customers regularly, and when there was recession we were still rewarding. Just before Sallah, we paid out over N200million to over 350 customers. We are pleased with the strategy we are adopting, we have seen the result, and we are encouraged to do more.”

Speaking on the promo, its Committee Chairman, Obaro Odeghe, said for the first time, the Bank is rewarding its customers with N10million as a grand price, among several other prices.

“Just open any savings account with Fidelity Bank, and grow your account balance to N20,000 or top-up your existing account with N10,000 to qualify you for the monthly draws to win N2million or N1million.

He added: “Top-up any of your savings account with N50,000 and you might be one of the lucky winners of N3million in the bi-monthly draw. Then maintain a monthly average balance of N200,000 and stand a chance to win the grand prize of N10 million. Walk into any Fidelity Bank and start saving your way to millions today.”

The Managing Director of the Bank, Nnamdi Okonkwo, said the campaign is the seventh in the series of promos aimed at rewarding customers for their unflinching loyalty and patronage.

Okonkwo, who was represented by the Executive Director, Shared Services & Products, Chijioke Ugochukwu, noted that the promo underscores the Bank’s determination to improve the standard of living of Fidelity customers even amidst Nigeria’s harsh economic environment.

He explained that the initiative is in line with the Central Bank of Nigeria (CBN) financial inclusion policy to ensure that monetary services are available to the unbanked and under-banked in Nigeria.

“In 2012, we had the cash and car saving promo, and we gave out 25 cars and a total of N25million to mark our 25th anniversary. We followed this up with our save for scholarship promo in 2014, when we gave away N80million in cash in scholarship. In 2015, we moved on to the housing needs of Nigerians and our customers.

“The save for shelter promo gave out fully developed houses, three duplexes located in Lagos, Abuja and Port Harcourt, and the houses and title documents were handed over to the lucky winners. The next was the get alert promo, and we gave out prices in total of about N5million. Today, it is the bigger and it’s reloaded.”



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